Simpson Votes for Permanent Tax Relief for Families and Individuals
Tax Reform 2.0 Expands on Success of Tax Cuts and Jobs Act
Washington, September 28, 2018
“Tax Reform 2.0 builds on the success of the Tax Cuts and Jobs Act from 2017,” said Simpson. “With the passage of the Tax Cuts and Jobs Act, we jump-started the economy by creating more jobs and increasing optimism on Main Street. Consumer confidence is at a nearly twenty year high, businesses are investing in their employees, and GDP grew by over four percent last quarter. Tax Reform 2.0 expands on that success by giving American families long term certainty through making the individual tax cuts permanent. That means more money in the pockets of American families and individuals, so they can decide what is best for them. The bill also doubles the Child Tax Credit, establishes the Paid Family Leave Tax Credit, and makes the doubled exemption of the Death Tax from TCJA permanent.”
Tax Reform 2.0 also makes permanent the 20 percent deduction for pass-through business income, locking in significant tax relief to Main Street job creators.
Tax Reform 2.0 is comprised of the following bills:
Simply put, Tax Reform 2.0 puts the focus on families and small businesses. “When American voters chose Republicans to control the House, Senate, and White House, we made a promise to our constituents that we would deliver historic tax reforms,” said Simpson. “The Tax Cuts and Jobs Act of 2017 fulfilled that promise, and Tax Reform 2.0 only doubles down on that success. I am proud to support this legislation and urge the Senate to move quickly to send these bills to the President’s desk.”